Cryptocurrency Taxes: how they Work and what Gets Taxed
If you held that specific amount of cryptocurrency for less than one year and it appreciated, the gain is taxed at your income tax level. Imagine you bought one Bitcoin (BTC) for about $3,700 in early 2019. In late February 2022, 1 BTC was worth $38,500, which you could have used to buy a car. So, you’re getting taxed three […]